Answer :
Final answer:
Explanation of how to calculate the unemployment rate using examples and reasons for increases in employment and unemployment rate.
Explanation:
Unemployment rate is calculated by dividing the number of unemployed individuals by the total number of employed individuals in the labor force. The result is expressed as a percentage and gives the rate of unemployment.
In the example provided, the unemployment rate for Year 1 can be calculated by dividing the number of unemployed individuals by the total number of individuals in the labor force for that year. Similarly, the rate for Year 2 can be computed in the same manner.
When both the number of people employed and the unemployment rate increase in an example, it could indicate a growing labor force, a rise in population, or changes in economic conditions affecting employment opportunities.
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